The number of PPI complaints has risen 73% since the second half of 2011. The FOS handles 3,000 calls a day on the issue.

Claims management companies (CMCs) take around 25% on average of compensation paid out to cover fees, said the FOS. They have been criticised for the levels of fees and onerous contracts.

The latest FOS data revealed that new PPI complaints continue to flood in despite the shift away from CMCs — with PPI cases making up 63% of total complaints received by the ombudsman in the six months to June 30.

The total number of complaints rose to 135,170 in the half-year — up 27% on the past six months.

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